1241975
Description
Mind Map by Natalia López, updated more than 1 year ago
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Created by Natalia López
over 10 years ago
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Yield Management
- What is Yield?
- Is the amount of revenue gained
from the sale of guests rooms.
- Is the amount of revenue gained
from the sale of guests rooms.
- Effective Yield Management can only be
done if the controls are planned and set
far enough in the future.
- When you follow these five basic steps...you will put Yield
Management into action.
- 1. Gathering Information
- We need to have a good advance knowledge of
what is happening in the market...
- And consider four aspects of gathering information...
- -Current Status
-Historical Data
-Community Happenings
-The Competiton
- -Current Status
-Historical Data
-Community Happenings
-The Competiton
- And consider four aspects of gathering information...
- We need to have a good advance knowledge of
what is happening in the market...
- 2. Analyse Demand
- 3. Forecast
- 4.Take Action
- Creating action plans, giving responsibilities
to each department of the hotel.
- Creating action plans, giving responsibilities
to each department of the hotel.
- 5. Evaluate Actions
- 1. Gathering Information
- Their goal is maximise yield.
- Its no enough with good publicity and reasonable
prices.
- Its no enough with good publicity and reasonable
prices.
- Control sales in two ways only in conditions of high demand...
- Price Control
- Strong Demand Higher Price
- Low Demand-Reduces Prices
- Strong Demand Higher Price
- Stay Control
- Price Control
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